Real Estate Tech
Hightower, a leader in commercial leasing process digitization, has teamed up with Floored, an interactive 3-D property visualization company, Commercial Observer has exclusively learned. By integrating Floored’s technology into the Hightower platform, potential tenants and brokers will be able to take virtual tours of a property.
Currently, Hightower tracks more than 10,000 vacant units totaling almost 40 million square feet. Many of these properties are in various stages of the renovation process. By using Floored to model a post renovation property, tenants will be able to more easily visualize the final space.
While new technology is constantly transforming existing industries, certain sectors are just a little less eager and slower to adapt than others.
In the real estate industry, some property managers were long resistant to change, even though their jobs revolve around keeping track of intricate data, such as lease dates, vacancies and leasable square footage. Often, they seek to turn the flood of information into trend charts and easy-to-follow patterns. Until recently, much of this record keeping was handled through Excel and, even more shockingly, on paper (one step above the caveman’s drawing)! Now, real estate professionals are finally getting some serious new tech tools, complete with apps and customized interfaces, to handle the management process.
Traditionally, larger companies have held a competitive advantage over smaller ones. Makes sense. They have more resources, which allows them to stake their claim as the top contender in their respective spaces. But more recently, several key factors are leveling the playing field, enabling smaller companies to reach a wider audience in a way that Read More
The 360 View
View the Space, a cloud-based commercial real estate leasing start-up, has moved into its new digs after slumming it on West 30th Street. The firm’s new space, designed by The Mufson Partnership, spans 7,400 square feet on the entire 12th floor at Herald Square Properties’ 142 West 36th Street just off Broadway.
VTS was delivered turnkey space with exposed ceilings and ductwork as well as polished concrete floors.
Retail pros are aflutter as they schedule their appointments for the International Council of Shopping Centers’ RECon Las Vegas. Two companies in particular are preparing for a big debut on the first day of the three-day May trade show: Related Companies and Floored.
Floored, a company providing software for the 3-D visualization of real estate, is planning to showcase the 3-D modeling of Related’s 26-acre Hudson Yards at its booth at the convention, David Eisenberg, the chief executive of Floored, told Commercial Observer. The technology will give potential tenants a sense of what it will look and feel like to be at the Far West Side commercial and residential development upon its completion in 2018. (Representatives from Related were not available for comment at press time.)
Commercial real estate leasing startup View the Space is preparing to introduce a mobile reporting platform, Commercial Observer has learned.
Next week, the real-time data provider, which aims to streamline the leasing process for brokers and landlords, will introduce the mobile platform for iPhone and iPad after beta testing the product for the last couple of weeks.
Cover Story, Feature
View the Space is taking more than 7,000 square feet in Herald Square Properties and Davis Companies‘ 142 West 36th Street, Commercial Observer has learned.
The commercial real estate software company, which claims the largest library of commercial real estate videos in the world, is taking the entire 12th floor in the 116,000-square-foot building, marking the first tenant to move into the new Mufson Partnership-designed pre-built offices between Broadway and Seventh Avenue.
Even as the construction process commences on a marquee Roosevelt Island technology project, some tech companies are uncertain about how the industry will fare now that Mayor Michael Bloomberg, a staunch advocate for tech, is out of office.
As Cornell NYC Tech, the engineering school slated for Roosevelt Island, makes its way through the development process and the city welcomes a new administration, it prompts a question: Will the sustainable applied science and engineering campus—and tech in general—get the same level of attention from Mayor Bill de Blasio as it did from his predecessor, Mr. Bloomberg?
View the Space, the real estate startup that collects leasing data and creates virtual space tours, has secured a $7 million round of venture funding.
The funding, provided primarily by Trinity Ventures of Menlo Park, Calif., will allow View the Space to expand into new markets and build the next generation of the service, according to a report by The Wall Street Journal.
“We believe that real estate has been, like some industries, underpenetrated by information technology,” said Noel Fenton, a general partner at Trinity, in an interview with the Journal. “There is an opportunity there to help owners and brokers execute their job more efficiently through online facilities.”
Bricks and Megabytes
Jones Lang LaSalle’s Ryan Masiello will be jumping ship to View The Space as Chief Revenue Officer. VTS, one of the fast growing commercial real estate start-ups, is revolutionizing the way brokers, tenants, and landlords interact in commercial real estate transactions.
“Our goal is to centralize what has historically been a very fragmented process and Read More
HonestBuildings, a new tech start-up co-founded by a former Tishman Speyer executive, has secured its first round of financing from a group of venture capital firms that include RockPort Capital and Mohr Davidow Ventures, the company is expected to announce later today.
Since launching in March, the website has expanded its roster of buildings listed on its site from 30,000 to 600,000, and now operates in markets that include New York City, Washington D.C., San Francisco, Seattle, Austin, Dallas and Houston.
Fast-growing website View The Space has poached SL Green Realty Corp.’s director of marketing to become the head of marketing for the upstart start-up, it was announced today.
Melissa Libner, who had worked for SL Green and its subsidiary eEmerge for nearly 12 years, is excited to be joining VTS.
“From the minute I saw their product, I knew this is where the world was heading,” Ms. Libner, 35, told The Commercial Observer.
Despite spending most of her career at SL Green, Ms. Libner felt she had taken her job at the REIT as high as she could.
“SL Green is never going to value marketing and ideas and innovation the way a start-up like VTS would, because they have so much to grow in this marketplace,” she said.